Neue Debatte - Special Edition - Long Essay on Left Strategy #002 - 04/2017 | Page 66

11 Choosing the right track
be to illegalize financial speculation and to abandon those institu-
tions, funds, and investment banks that waste social capabilities for
dangerous games of chance playing stakes of values somewhere in
the world people had to work hard for. Yanis, your greatest concern
in a bank saving process is about “to avoid, above all, a haircut of
deposits”. 48 Well then, let’s cut down economically useless and so-
cially obstructive investment banking and save deposits by socialising
them for urgent projects.
11.3 On the investment crisis
First and foremost th e investment crisis is a result of a permanent
global crisis of over-production potential and the relative saturation
of consumer demand. Profitable reinvestments in industrial capital
circuits and in real economy became more and more difficult. On the
contrary, the capabilities and potentials of mankind to cope with all
needs in all fields of material and social life all over the world have
never been better in all history. Natural and applied sciences, engi-
neering, global transport, sustainable power generation and recov-
ery, nature-preserving raw material extraction, an amazing level of
labour productivity and possible worldwide division of labour in a
uniting world of work and by that redundant capacities for culture
and education are objectively suited to meet the current needs of a
growing world population and new global challenges arising. Why
can’t we proceed then whereas most things grow worth instead? Be-
cause more than 95% of the population have no capital assets which
are the tickets to the world of decision making. And if you happen to
belong to the class of capital holders you have to care exclusively for
your assets, not to lose, but to make optimal profit of them, not to
miss profitable investment opportunities. You are now a decision
maker but solely for the sake of your own private capital.
What is basically wrong with the markets and investment making?
Capitalist entrepreneurs bargain with the wage workers for a low
wage to make production as profitable as possible. Leaving the com-
pany sites these poorly payed workers become consumers of the
commodities which have to be transferred into money capital on
commodity markets. Now the interests of our capitalists change to
the opposite wishing their workers to spend wage money they had
48
Modest Proposal, Policy 1.
60